Investing.com – European stocks rallied to post sharp gains on Wednesday, led up by stocks in the commodity and financial sectors, while U.S. futures indices pointed to a higher open on Wall Street.
During European afternoon trade, the EURO STOXX 50 advanced 1.34%; France’s CAC 40 increased 1.66%, while Germany's DAX gained 1.03%.
Stocks in the financial sector led gains across European markets, as shares in French banker BNP Paribas advanced 3.14%, stocks in Dutch insurer ING Groep increased 2.02% and Barclays gained 2.27%.
Shares in the construction materials sector were also on the rise, with stocks in the world’s largest cement manufacturer Lafarge SA surging 4.69% and stocks in Vinci SA gaining 3.21%, after the French-based construction company reported a 1.9% increase in first-half profit, beating expectations.
Elsewhere on the corporate front, shares in French entertainment giant Vivendi SA soared 4.26%, after the company announced that its full-year earnings outlook has improved for the rest of 2010.
In London, the commodity heavy FTSE 100 was up 1.28% as miners led gains. Shares in mining giant Xstrata surged 2.92%, Vedanta Resources stocks increased 2.38%, while shares in Chile-based copper mining company Antofagasta gained 2.52%, as copper climbed to a four-month high.
Crude oil prices soared 1.11% to hit USD 72.50 a barrel.
The outlook for U.S. equity markets, meanwhile, was upbeat: Dow Jones Industrial Average futures indicated a rise of 0.61%, S&P 500 futures pointed to an increase of 0.66% and Nasdaq 100 futures indicated a gain of 0.83%.
Later in the day, the U.S. was to release a report on ADP non-farm employment change, as well as official government data on manufacturing activity.
During European afternoon trade, the EURO STOXX 50 advanced 1.34%; France’s CAC 40 increased 1.66%, while Germany's DAX gained 1.03%.
Stocks in the financial sector led gains across European markets, as shares in French banker BNP Paribas advanced 3.14%, stocks in Dutch insurer ING Groep increased 2.02% and Barclays gained 2.27%.
Shares in the construction materials sector were also on the rise, with stocks in the world’s largest cement manufacturer Lafarge SA surging 4.69% and stocks in Vinci SA gaining 3.21%, after the French-based construction company reported a 1.9% increase in first-half profit, beating expectations.
Elsewhere on the corporate front, shares in French entertainment giant Vivendi SA soared 4.26%, after the company announced that its full-year earnings outlook has improved for the rest of 2010.
In London, the commodity heavy FTSE 100 was up 1.28% as miners led gains. Shares in mining giant Xstrata surged 2.92%, Vedanta Resources stocks increased 2.38%, while shares in Chile-based copper mining company Antofagasta gained 2.52%, as copper climbed to a four-month high.
Crude oil prices soared 1.11% to hit USD 72.50 a barrel.
The outlook for U.S. equity markets, meanwhile, was upbeat: Dow Jones Industrial Average futures indicated a rise of 0.61%, S&P 500 futures pointed to an increase of 0.66% and Nasdaq 100 futures indicated a gain of 0.83%.
Later in the day, the U.S. was to release a report on ADP non-farm employment change, as well as official government data on manufacturing activity.